Only Organizations Adapted to the Digital Revolution Will Survive, Says IBM Israel CEO

The financial sector has failed to respond holistically to the digital revolution, leading to the creation of "digital islands" not backed by suitable work process, according to IBM Israel CEO Daniel Melka. Speaking Monday at a fintech conference held in Tel Aviv by Calcalist, Bank Leumi’s tech banking arm LeumiTech, and accounting firm KPMG, Melka said that the next generation is redefining the business process and interorganizational operations.

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"The era is changing faster than organizations can adjust," Melka said, "and those who will survive will not necessarily be the strongest, but those quickest to adapt."

Every organization needs a flexible business platform that pertains to three aspects of its world view, Melka said: data, business processes, and human talent. Leveraging data is the basis of every organization, he explained, and artificial intelligence and automation need to be employed in order to rebuilt business processes according to the new digital needs.